The Clearing House announced on June 5, 2026 that 17 major financial institutions will participate in a new tokenized deposit settlement network. The platform enables on-chain clearing and settlement of tokenized bank deposits with programmable payment controls including escrow, delivery-versus-payment, and spend restrictions. Participation is restricted to supervised institutions and their verified clients.
The consortium includes JPMorgan, Bank of America, Citigroup, Wells Fargo, HSBC, PNC, Truist, U.S. Bank, TD Bank, BNY, BMO, Citizens Financial Group, Fifth Third, KeyBank, Regions Financial, Santander, and Huntington National Bank. The network serves as a connectivity layer bridging blockchain transactions to TCH's existing CHIPS and RTP payment rails, which together clear and settle more than $2 trillion daily.
TCH has not yet selected a blockchain technology vendor. The target launch is the first half of 2027. The network supports instant within-network transfers and interbank netting, with regulated bank deposits serving as an institutional alternative to stablecoins for on-chain commercial payments.